Net profit of State-run banks exceed $1.2B in H1

ANADOLU AGENCY
ANKARA
Published

Combined net profits of Turkey's state-run banks - Ziraat, Vakıf and Halkbank - stood at TL 7.95 billion, ($1.24 billion) in the first half of 2018.

Their net profit totaled TL 8.9 billion in the same period last year, according to data compiled from non consolidated balance sheets.

The total assets of the three banks reached TL 1.15 trillion by the end of the first half of the year.

Among the three banks, Ziraat saw the highest net profit with TL 3.95 billion, down by 8 percent year-on-year. Its assets totaled TL 497.6 billion.

Vakıf Bank's net profit stood at TL 2.1 billion.

Halk Bank's net profit also dropped 23 percent to TL 1.9 billion during the same period.

While Halk's total assets amounted to TL 348.3 billion, Vakıf's total assets totaled TL 306 billion.

The total net profit of the Turkish banking sector reached TL 28.9 billion in the first half of this year. Its total assets stood at TL 3.67 trillion, according to the Banking Regulation and Supervision Agency (BDDK) data.

The banking sector's regulatory capital to risk weighted assets ratio - a significant indicator to figure out minimum capital requirements of lenders - was at 16.26 percent this June, versus 16.87 percent in the same month last year.

In Turkey, some 50 state/private/foreign lenders, including deposit banks, participation banks, development and investment banks had over 11,700 domestic and overseas branches with around 210,000 employees as of June.

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